| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 22nd | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 605 Paredes Line Rd, Brownsville, TX, 78521, US |
| Region / Metro | Brownsville |
| Year of Construction | 1974 |
| Units | 102 |
| Transaction Date | 2019-07-31 |
| Transaction Price | $4,056,300 |
| Buyer | BRANDYWYNE RAYBEC APARTMENTS LLC |
| Seller | GREER MILT |
605 Paredes Line Rd, Brownsville TX Multifamily Investment
Stabilized renter demand and high neighborhood occupancy provide a durable baseline for operations, according to WDSuite’s CRE market data. An older 1974 vintage suggests potential value-add through targeted renovations to enhance competitiveness.
Rated A and ranked 8 out of 133 Brownsville–Harlingen metro neighborhoods, this inner-suburb location sits in the top quartile among metro peers. Neighborhood occupancy is strong and compares favorably to national benchmarks, supporting income stability for multifamily assets.
Livability drivers skew toward daily-needs convenience: grocery and restaurant density ranks near the top of the metro and in high national percentiles, while parks and pharmacies also post solid national positioning. Cafe density is comparatively thin. School quality averages low for the neighborhood, which may factor into unit mix strategy and tenant profile expectations.
The housing stock skews older than the neighborhood average (1974 vs. 1988), pointing to practical capital planning needs and renovation upside to improve unit finishes and building systems. A high share of housing units are renter-occupied at the neighborhood level, indicating deep renter concentration and a broad tenant base that can support leasing velocity and retention.
Within a 3-mile radius, households have grown over the past five years and are projected to increase meaningfully by 2028, implying a larger renter pool and support for occupancy. Population growth has been modest historically, but household formation outpaced it, which can translate to continued demand for rental units. Median rents are comparatively low in the neighborhood context, which can aid lease-up, while a rent-to-income ratio near one-quarter suggests some affordability pressure to consider in lease management and renewal strategies. These dynamics align with prudent commercial real estate analysis focused on demand depth and pricing power.
Safety indicators are mixed. The neighborhood’s crime rank places it competitive among Brownsville–Harlingen neighborhoods (41 out of 133), yet overall safety stands below the national average based on national percentiles. Property offenses benchmark relatively better than violent offenses in national comparisons.
Recent year-over-year changes show volatility in estimated offense rates; investors should monitor trend direction rather than single-year swings and align security measures, lighting, and access controls with property operations. Comparing rolling multi-year trends for the neighborhood versus the wider region can help contextualize risk and inform underwriting assumptions.
Regional employers within commuting distance contribute to a diversified workforce that can support renter demand and retention. The list below reflects nearby organizations relevant to commuting patterns.
- Dish Network — telecommunications operations (21.9 miles)
This 102-unit, 1974-vintage asset benefits from a high renter concentration and above-median neighborhood occupancy, supporting income durability. Daily-needs amenities are convenient, and neighborhood performance sits in the top quartile of the Brownsville–Harlingen metro. According to CRE market data from WDSuite, median rents are comparatively low locally, aiding lease-up, while household growth within 3 miles and projections for additional households by 2028 point to a larger tenant base and support for occupancy.
The vintage implies targeted capex and value-add potential to sharpen competitive positioning against newer stock, while lease management should account for affordability pressure signals and mixed school ratings. Safety metrics are competitive within the metro but below national averages, warranting prudent operational controls and ongoing monitoring in underwriting.
- Top-quartile neighborhood rank in the metro with strong occupancy supporting cash flow stability
- High renter-occupied share indicates deep tenant base and steady leasing
- Daily-needs amenity density (grocers, restaurants, pharmacies) supports retention
- 1974 vintage offers value-add potential through renovations and systems upgrades
- Risks: below-national safety benchmarks, low school ratings, and affordability pressure require active management